Medtronic PLC (NYSE:MDT)‘s stock had its “hold” rating reissued by stock analysts at Northland Securities in a report released on Wednesday. They presently have a $80.00 price target on the medical technology company’s stock. Northland Securities’ target price points to a potential downside of 2.84% from the stock’s previous close.
A number of other equities analysts have also weighed in on the stock. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $94.00 price target on shares of Medtronic PLC in a research report on Wednesday. Stifel Nicolaus boosted their target price on shares of Medtronic PLC from $83.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday. SunTrust Banks, Inc. set a $92.00 target price on shares of Medtronic PLC and gave the company a “buy” rating in a report on Sunday, November 19th. Needham & Company LLC reiterated a “buy” rating and issued a $94.00 target price on shares of Medtronic PLC in a report on Thursday, November 9th. Finally, Cowen Inc reiterated a “buy” rating and issued a $95.00 target price on shares of Medtronic PLC in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Medtronic PLC presently has a consensus rating of “Hold” and an average target price of $88.02.
Shares of Medtronic PLC (NYSE MDT) opened at $82.34 on Wednesday. The company has a market cap of $111,970.49, a PE ratio of 17.82, a PEG ratio of 2.18 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.40. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72.
Medtronic PLC (NYSE:MDT) last released its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The business had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic PLC had a net margin of 16.93% and a return on equity of 12.63%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.12 earnings per share. research analysts forecast that Medtronic PLC will post 4.78 EPS for the current fiscal year.
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In other Medtronic PLC news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total value of $1,264,320.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the sale, the chief executive officer now directly owns 668,503 shares in the company, valued at $54,569,899.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 172,407 shares of company stock worth $13,974,223. 0.31% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in MDT. Noesis Capital Mangement Corp boosted its holdings in shares of Medtronic PLC by 1.8% in the 1st quarter. Noesis Capital Mangement Corp now owns 112,255 shares of the medical technology company’s stock valued at $9,043,000 after buying an additional 1,975 shares in the last quarter. Robecosam AG boosted its stake in Medtronic PLC by 15.0% during the 1st quarter. Robecosam AG now owns 73,874 shares of the medical technology company’s stock worth $5,983,000 after purchasing an additional 9,622 shares during the period. JNBA Financial Advisors boosted its stake in Medtronic PLC by 0.4% during the 1st quarter. JNBA Financial Advisors now owns 47,047 shares of the medical technology company’s stock worth $3,790,000 after purchasing an additional 200 shares during the period. Cibc World Markets Corp boosted its stake in Medtronic PLC by 57.1% during the 1st quarter. Cibc World Markets Corp now owns 142,961 shares of the medical technology company’s stock worth $11,517,000 after purchasing an additional 51,947 shares during the period. Finally, Vaughan David Investments Inc. IL boosted its stake in Medtronic PLC by 3.0% during the 1st quarter. Vaughan David Investments Inc. IL now owns 7,485 shares of the medical technology company’s stock worth $603,000 after purchasing an additional 216 shares during the period. 81.14% of the stock is currently owned by institutional investors.
About Medtronic PLC
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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